The Investor
22 Oct 2025, 02:56
AST SpaceMobile announced plans for a private offering of $850 million in convertible senior notes due 2036, with an option for initial purchasers to buy up to an additional $150 million in notes. The notes will be senior, unsecured obligations, paying semiannual interest and maturing on January 15, 2036, unless converted, redeemed, or repurchased earlier. They will be convertible into cash, Class A common stock, or both, at the company’s discretion.
Proceeds will be used for general corporate purposes, primarily to fund satellite deployment for its planned global space-based cellular broadband network.
In a separate registered direct offering, AST SpaceMobile also plans to sell Class A shares to help finance the repurchase of up to $50 million of its existing 4.25% convertible notes due 2032 through privately negotiated transactions.
The offerings are independent but cross-conditional and are not registered under the Securities Act, meaning they will be sold only to qualified institutional buyers under Rule 144A.
Proceeds will be used for general corporate purposes, primarily to fund satellite deployment for its planned global space-based cellular broadband network.
In a separate registered direct offering, AST SpaceMobile also plans to sell Class A shares to help finance the repurchase of up to $50 million of its existing 4.25% convertible notes due 2032 through privately negotiated transactions.
The offerings are independent but cross-conditional and are not registered under the Securities Act, meaning they will be sold only to qualified institutional buyers under Rule 144A.
